Aspects of APAC Archives

How to Incorporate Money Laundering Risk Into Risk Management: Part Three

February 10, 2022 /Leave a comment

This is the third and final article of a three-part series that provides guidance on the practice of incorporating money laundering risk into risk management. This article will focus on implementing money laundering risk management duties for senior executives and final thoughts on the importance...

Aspects of APAC, Exclusive

How to Incorporate Money Laundering Risk Into Risk Management: Part Two

December 1, 2021 /Leave a comment

This is the second article of a three-part series that provides guidance on the practice of incorporating money laundering risk into risk management. This article will focus on formulating risk management strategies to prevent money laundering. Money Laundering Risk Management and Strategy Formulation In practice,...

FALL OF AFGHANISTAN FINANCIAL CRIME RISKS

Aspects of APAC, Special for the Web

Fall of Afghanistan and Financial Crime Risks for Pakistan

September 22, 2021 /Leave a comment

Nobody knew Afghanistan would see such dramatic and rapid changes in such a short span of time. The Taliban shocked the U.S. and the rest of the world with their lightning-fast takeover of the country. This article will discuss the ever-changing situation in Afghanistan...

Aspects of APAC, September 2021 - November 2021

How to Incorporate Money Laundering Risk into Risk Management: Part One

September 3, 2021 /Leave a comment

Relevant provisions have regulated the incorporation of money laundering and terrorist financing risk (hereinafter referred to as money laundering risk) into the overall risk management of financial institutions (FIs). These provisions include the Financial Action Task Force’s “Risk-Based Approach Guidelines for the Banking Sector”...

Aspects of APAC, June - August 2021

Defining Risk in Sanctions Compliance

June 25, 2021 /Leave a comment

Although enterprises in a variety of sectors—including finance, counseling and even manufacturing—have discussions on “sanctions compliance risk management,” it lacks an academic definition. In the risk management toolkit, the “classical risk model” that has been used for decades explains various risk management strategies in...

Aspects of APAC, June - August 2021

Stimulating Innovation and Change in AML/CTF

June 25, 2021 /Leave a comment

Engaging with emerging technology in anti-money laundering/counter-terrorist financing (AML/CTF)—both addressing its risks and seeking to exploit its potential—has become an increasingly important part of the international agenda in recent years, as it has been featured in the objectives of at least the last four...

Aspects of APAC, March - May 2021, Staff Notes

Enhancing China’s AML/CTF Framework

March 30, 2021March 30, 2021 /Leave a comment

Since the 2019 People’s Republic of China (China) mutual evaluation report (MER) by the Financial Action Task Force (FATF), the country has taken a number of actions to strengthen its anti-money laundering/counter-terrorist financing (AML/CTF) framework. This article provides an update on China’s efforts to...

Aspects of APAC, March - May 2021, Staff Notes

The Keys to a Successful Conduct Agenda

March 30, 2021March 30, 2021 /Leave a comment

On September 10, 2020, the Monetary Authority of Singapore (MAS) issued its “Guidelines on Individual Accountability and Conduct.”1 Effective September 10, 2021, the guidelines focus on the measures financial institutions (FIs) in Singapore should enact to accomplish the following: Promoting the individual accountability of...

Aspects of APAC, Special for the Web

Five Regulatory Compliance Trends to Impact APAC and AML in 2021

March 8, 2021March 19, 2021 /2 Comments

Unprecedented—a word that defined the world in 2020. The unprecedented COVID-19 pandemic and resulting global downstream economic impact upturned everyone’s lives in unimaginable ways, with entire countries still struggling to contain the situation. The unprecedented deadly scale of environmental disasters such as the bushfires...

Aspects of APAC, December 2020 - February 2021, Interviews

Kimihiro Mine: Cooperation in the Crypto Industry

December 22, 2020January 4, 2021 /Leave a comment

On June 24, 2020, Kimihiro Mine, president of bitFlyer, Inc., was appointed chairman of the Japan Virtual Currency Exchange Association (JVCEA). The JVCEA is a self-regulatory entity for the Japanese cryptocurrency industry and is formally recognized by the Japanese Financial Services Agency (FSA). The...

ACAMS Today

The Magazine for Career-minded Professionals in the Anti-Money Laundering Field

Neobancos: Enigma legislativo

El narco comercio

República Dominicana: Avances en materia anticorrupción

Sanciones y sus desafíos

El lavado transaccional

Harmonisation of the EU AML Framework

Aspects of APAC